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Is Google Worth $1,000 or is it Overvalued?

When the company has a project called "Loon" which will use balloons to provide broadband access across sub-Saharan Africa, makes you wonder whether or not you should be investing in it.  But when you realize its Google, that somewhat makes you feel a little better... or does it?
Google reported Q3 2013 earnings of $14.89 billion in consolidated revenue and $2.97 billion in net income and non-GAAP earnings of $10.74.  Cost per click fell 8% causing concerns among investors,  though this was offset by an increase in paid clicks.  The Street reacted very positively and Reuters reports that at least 16 brokerages raised their price targets.  

Where do you stand on the Google debate? Worth $1,000 or just overvalued?